Joint-leads Citigroup and UBS priced a $225 million convertible for Fubon Financial Holdings last night Thursday. The deal appeared to find a timely market slot, but has been a long time in the making, having initially been pre-marketed back in early August just as Treasury yields started to spike.
It comes now on the back of a nearly 10% rise in Fubon's share price over the past two days and a settling of the CB market following sizeable transactions for Mega Financial Holdings and China Development Financial Holdings Company CDFHC over the past two weeks. Pricing was very similar to both of Fubon's two most recent predecessors, but the syndication process appears...
